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Big Lots profit beats consensus by 15.2% in fiscal Q1


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Big Lots profit beats consensus by 15.2% in fiscal Q1

Big Lots Inc. said its normalized net income for the fiscal first quarter ended May 3 came to 51 cents per share, compared with the S&P Capital IQ consensus estimate of 44 cents per share.

EPS fell 28.5% year over year from 71 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $29.3 million, a decline of 28.8% from $41.1 million in the prior-year period.

The normalized profit margin declined to 2.3% from 3.2% in the year-earlier period.

Total revenue grew on an annual basis to $1.28 billion from $1.27 billion, and total operating expenses increased year over year to $1.23 billion from $1.20 billion.

Reported net income decreased 22.3% year over year to $28.8 million, or 50 cents per share, from $37.0 million, or 64 cents per share.